CYPRESS, TEXAS — Greg Usher of Cypressbrook Co. has represented Argen Polymer LLC in the purchase of two tracts of land totaling 10.8 acres and a warehouse building containing 15,000 square feet on Telge Road in Cypress. Steve Adkisson of Adkisson Group represented the seller, SF Telge Park LLC.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of North Davis Plaza, a 12,054-square-foot retail property located in Arlington. Bill G. Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Jordan also secured the buyer, a private investor. North Davis Plaza is located at 2430 N. Davis Drive. The shopping center was built in 1985 and is 52 percent occupied. Tenants include Animal Clinic of Arlington, Mr. Jim’s Pizza, Sportswear World and The Dog Grooming Shop.
COPPELL, TEXAS — Tom Smolik and Matthew Hickey of TIG have represented the unnamed landlord in a 25,568-square-foot, long-term lease renewal at Coppell Tech Center II, located at 1322 Crestside Drive in Coppell. Mark Miller of NAI Robert Lynn represented the tenant, MasTec International, in the transaction.
ORLANDO, FLA. — CBRE has brokered the $42 million sale of The Glenn, a 396-unit luxury apartment community located at 10801 Heather Ridge Circle in Orlando. Insula Cos. purchased the property from Heather Glen Holding Co. LLC. The Glenn features three swimming pools with sundecks and tanning areas, a clubhouse, sand volleyball court and a newly constructed, 2,500-square-foot fitness center with a spin and yoga room. Built in 1986 and updated in 2014 and 2015, The Glenn was 95 percent occupied at the time of sale. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction.
WESTON, FLA. — New York Life Real Estate Investors has purchased Weston Pointe, a 388,112-square-foot, four-building office park in Weston, a town in Broward County. Built between 1999 and 2006, Weston Pointe was 99 percent leased at the time of sale to tenants such as Wells Fargo, BB&T, Merrill Lynch, Regus, Ultimate Software and the General Services Administration. New York Life Real Estate Investors purchased the asset on behalf of the Madison Core Property Fund.
DAVIE, FLA. — PREMIER Design + Build Group LLC has finished construction on a speculative industrial warehouse in Davie, a town in Broward County. The 145,800-square-foot project, known as Bridge Point Davie, is located at 3501 S.W. 46th Ave. PREMIER completed the project on behalf of Bridge Development Partners LLC. Bridge Point Davie is a Class A facility featuring 32-foot clear heights, 43 truck dock positions, four drive-in doors, an ESFR fire protection sprinkler system and 241 parking stalls. Mark Melone and Michael Pacini of PREMIER were the project managers and Ed Lebak, also with PREMIER, was field superintendent. RLC Architects provided architectural services, and Landplan Engineering Group Inc. was the civil engineer. David Wigoda and Steve Wasserman of JLL are leasing the project on behalf of Bridge Development Partners.
CHAPIN, S.C. — Aztec Group Inc. has secured a $14 million construction loan for Chapin Crossing Shopping Center, a Publix-anchored project underway in Chapin. The shopping center will feature a 45,600-square-foot Publix, roughly 36,000 square feet of inline shop space and three outparcels that can span up to 41,000 square feet. The project will be situated on a 20-acre lot near Lake Murray. Jason Shapiro and Sean Harrington of Aztec Group originated the three-year loan on behalf of the borrower, Chapin & Lex LLC, a joint venture between Mayan Properties, Elion Partners and CF Properties. The loan features a four-year extension option.
HOUMA, LA. — Venture Commercial Real Estate and SRSA Commercial Real Estate, two X Team International partners, have arranged a 20,023-square-foot lease for Northern Tool + Equipment in Houma. The family-owned and operated chain of hardware stores will occupy space at Houma Power Center, joining Old Navy, Burkes Outlet, Shoe Carnival and Pier 1 Imports. The shopping center is located between Martin Luther King Boulevard and West Main Street. Clay Mote of Venture Commercial and Kirsten Early of SRSA Commercial represented Northern Tool in the lease deal. Austin Lavin of Corporate Realty represented the landlord, Andrew Associates LLC. The Houma store will be Northern Tool’s second location in Louisiana.
NORTH AURORA, ILL. — American Realty Advisors has acquired a 604,565-square-foot industrial property in North Aurora, approximately 40 miles west of Chicago, for an undisclosed price. The I-88 Gateway Logistics Center is fully leased to a single tenant through 2022. Built in 2014, I-88 Gateway Logistics Center is situated on 33 acres and features 32-foot clear heights, 60 cross-dock truck doors, four drive-in doors, ESFR fire protection, a fully air-conditioned food grade warehousing facility, 63 trailer stalls, 46 trailer staging bays and 300 parking spaces. A joint venture between Opus and USAA Real Estate Co. sold the asset to American Realty Advisors. Jeffery Devine and Steven Disse of Colliers represented the joint venture in the transaction.
CHICAGO — Interra Realty has brokered the sale of two multifamily properties in Chicago for a total of $8.5 million. In the first deal, 606 Capital LLC acquired a 26-unit building from Fullerton Condominiums LLC for $5.9 million. The asset is located at 3045 W. Fullerton Ave. in the Logan Square neighborhood. The building has recently been fully rehabbed and consists of two-bedroom units and has 13 parking spaces. In the second deal, an eight-unit apartment building at 2053 N. Sheffield Ave. in the Lincoln Park neighborhood sold for $2.6 million. Dowdell Sheffield LLC sold the property to Lakeview Associates Inc. The building was renovated in 2007 and 2008. Brad Feldman of Interra Realty represented both parties in the two transactions.